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India's Energy Bills Soar Amid Global Tensions | India News
India’s energy import bill surged 43% in the first four months of the financial year, hitting nearly $58 billion—driven by supply crunches and soaring prices from Middle East tensions and Strait of Hormuz disruptions. Though import volumes rose only slightly, costs skyrocketed, especially for LNG and petroleum products, with India prioritizing fuel access over price. Nearly 90% of LPG and 60% of LNG flow through the volatile Strait, forcing premium payments. With oil prices climbing, experts warn India’s total import bill could hit $200 billion this year, straining trade, inflation, and the…
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